Global telemedicine market on growth track

The global telemedicine market is expected to grow at a compound annual growth rate of 19 percent, driven mainly by growth opportunities in Europe, according to a recent report by Technavio, specialists in emerging technologies market research.

The report covers the Americas as well as the EMEA and APAC regions.

“Though the United States has been dominating the global telemedicine market, Europe and developing nations are rapidly catching up," said Technavio’s industry analyst. “This shift is occurring mainly because of the increase in the number of patients with chronic diseases and the increasing availability of online healthcare services.”

The report also highlights that the lack of standardized classifications is hindering the growth of this market. However, the increase in remote monitoring of patients is expected to keep driving the market, which is also boosted by the increase in telesurgery.

The report, Global Telemedicine market 2010–2014, is based on extensive research conducted with industry experts, vendors and end-users, according to Technavio. It examines the key trends, drivers, and challenges impacting the markets's evolution. The report also contains insights and SWOT (Strengths, Weaknesses, Opportunities, and Threats) analyses regarding the key vendors in the market, including Philips Healthcare, Agfa Healthcare, Honeywell HomMed, and AMD Telemedicine Inc.